GM, LG Spend Big on Battery Plant
April 19, 2021—General Motors and battery partner LG Energy Solution announced a joint venture to invest in a battery production plant in Spring Hill, Tenn.
A press release says that the $2.3 billion investment will produce battery cells for GM's dedicated EV platform, Ultium Drive. The plant is 2.8 million square feet and scheduled to open in 2023.
“The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future,” said GM Chairman and CEO Mary Barra in the press release.
The company is betting big on Ultium Drive, saying that the proprietary system is at the heart of GM's EV strategy.